LandBank offers Manila P10B loan

Manila Mayor Honey Lacuna assured the public Friday that her administration would be judicious in using a P10-billion loan facility that has been offered by Land Bank of the Philippines (LandBank).

“We thank LandBank for its offer, but we are carefully studying first the high-impact projects that may be funded through this facility,” Lacuna said in the vernacular.

It may be recalled that the mayor has announced a plan to build a senior citizens’ center and temporary housing for runaway kids.

LandBank said it has offered the city government of Manila the loan facility because of its superb financial track record.

LandBank president Cecilia Borromeo, Lacuna and Vice Mayor John Marvin Nieto over the weekend led the blessing and inauguration of 10 mobile automated teller machines (ATM) at the Plaza Rajah Sulayman in Malate, Manila.

“The launch of new LandBank Mobile ATM today reflects our continuing commitment to deliver unhampered and essential services to customers. We are also expanding our reach nationwide to promote greater financial inclusion, as part of our broader thrust to spur inclusive and sustainable development,” Borromeo added.

Six of the new Mobile ATM will be stationed in LandBank branches located in Luzon — including two units in Metro Manila — and two units each in the Visayas and Mindanao. The new touchpoints increase LandBank’s total mobile ATM to 20 and a wider ATM network of 2,877.

Designed as an offsite ATM mounted on a customized transport vehicle, the LandBank mobile ATM can provide basic banking services, such as cash withdrawal, balance inquiry, bills payment and fund transfer.

The mobile ATM can be deployed in areas affected by disasters or calamities, including cash payouts to beneficiaries of the National Government’s Conditional and Unconditional Cash Transfer Programs under the Department of Social Welfare and Development.

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